The Summit a corridor of success
by Jasmine Chinjasminchin@theborneopost.com. Posted on July 15, 2011, Friday
ATTRACTIVE BID: (From left) Patty Lim, Grace Ng, Terrie Teo and Holden Lukem. Tiew stated that the pull factor for the project was its three years rental guaranteed to buyers in advance upon booking and the 10 per cent rental guarantee return.
KUCHING: The success of The Summit Batu Pahat (The Summit) roadshow has showcased the interest of the East Malaysian crowd towards the properties developed by Andaman Property Management Sdn Bhd (Andaman).
According to head of sales and marketing for Andaman, Datuk Vincent Tiew, the pull factor for the project was its three year rental guaranteed to buyers in advance upon booking. As such, investors would only need to borrow a minimum of 65 per cent loan to purchase the intended unit.
Like The Arc@Cyberjaya which offered an eight per cent rental return, The Summit offered a 10 per cent rental guarantee with a net gain of RM465 after deducting the monthly bank installment and management fee.
With a total development value of RM32 million, The Summit is strategically located in the prime location right in the heart of Batu Pahat’s commercial district and town centre.
Tiew said that the project’s strategic site made it a preferred choice for both locals and tourists as it provided easy access to the surrounding townships.
The Summit which was designed as a four-storey retail outlet consisted of over 400 units blend of shops whereby shoppers would enjoy a variety of flavours ranging from fashion, jewellery, beauty, health, books, amusement and much more.
In addition to that, the second phase of The Summit Batu Pahat was a 10-storey business class hotel for both tourists and business travellers. With regards to Andaman’s targeted sale for this phase, Tiew noted that the group was eyeing a sale of 10 units out of the total 20 units in Sarawak.
Tiew further added that the response from the East Malaysian market had been overwhelming as it had recently recorded a 20 per cent sales of The Summit in East Malaysia. Phase One of The Summit was successfully sold out.
To date, total sales value for both Phase One and Phase Two of The Summit is RM35 million.
The exhibition will be held from July 14 to July 17 from 10am to 9pm at the Ruai Berlian Room on the fourth floor of the Grand Continental hotel.
For those interested in The Summit, contact Aubrey Chan, the principal of Borneo Real Estate (the official marketer in Sarawak) at 016-8699884.
